Moran State Bank (Moran, KS)

Episode Information

Episode UID
83094871499
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
8309487 routing
Routing Number
83-0948
Start Date
November 10, 1924
Location
Moran, Kansas (37.916, -95.170)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
63f4dbf3ef473a21

Response Measures

None

Description

State bank commissioner closed the bank and a receiver was named; assets were to be merged into People's State Bank.

Events (5)
1. November 10, 1924 Receivership
Newspaper Excerpt
Frank Swonger, of Garnett, was named receiver by Commissioner Peterson and N. B. Oberworten, of Topeka, a deputy bank commissioner is in charge.
Source
newspapers
2. November 10, 1924 Suspension
Cause
Government Action
Cause Details
Closed by the state bank commissioner who placed the bank in receivership pending re-organization/merger of assets with People's State Bank
Newspaper Excerpt
The Moran State Bank was closed by Carl J. Peterson, state bank commissioner shortly after 9 o'clock this morning
Source
newspapers
3. April 3, 1925 Other
Newspaper Excerpt
Swonger Resigns Bank Receiverships. ... tendered his resignation as receiver of the Farmers Bank, Garnet, and the Moran and Vernon banks, to take effect as soon as he could be checked out.
Source
newspapers
4. February 4, 1926 Other
Newspaper Excerpt
START SUIT IN MORAN BANK ... Suits all outstanding notes held ... for the defunct Moran State Bank, an early date, Frederick Apt. ... The first of these suits was filed in district court today
Source
newspapers
5. January 31, 1927 Other
Newspaper Excerpt
The receiver Moran State Bank, where Wilson deposited the ... has paid the judgment $5,500 has been obtained against Indemnity which company bonded Wilson.
Source
newspapers

Newspaper Articles (5)
1. November 10, 1924 The Iola Register Iola, KS
Article from The Iola Register, November 10, 1924

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Article Text

The Moran State Bank was closed by Carl J. Peterson, state bank commissioner shortly after 9 o'clock this morning when Harlan Taylor, president and principal stockholder in the institution, indicated his inability to go ahead with the affairs of the bank. Frank Swonger, of Garnett, was named receiver by Commissioner Peterson and N. B. Oberworten, of Topeka, a deputy bank commissioner is in charge. Commissioner Peterson said he would undertake personal supervision pending arrangements to effect a re-organization of the financial affairs of the bank. Two notices appear in the glass panel in the front door to the bank; this one: "This bank is in the hands of Carl J. Peterson, state bank commissioner. N. B. Oberworten, deputy in charge. Then; a proof of claim and this assignment. "Upon deposit to the credit of I, we or either of us, in the People's State Bank, Moran, Kans., of ______ percent ______ or more of the above claim, I, we or either of us may have against the Moran State Bank, of Moran, Kans., Nov. 10, 1924, and the further payment of the remaining ______ percent ______ at such times and under such terms as the state bank commissioner may direct in compliance with the provisions of the depositors guaranty law, I, we or either of us, hereby assign to People's State Bank, of Moran, Kans., all right, title and interest in and to said claim." Signature The form of assignment appearing on the glass panel points clearly to the negotiations that are under way today to merge all the good assets of the suspended banking institution with those of the People's State Bank so that the business affairs of Moran and the community surrounding it will feel to the least degree possible the financial strain which undoubtedly would follow a complete collapse. Effect a Merger. "The merger will be effected," D. R. Goyette, president of the People's State, told a Register representative who visited the closed bank this morning, "and while it will take a little time, things will work out to good advantage. Harlan Taylor and Marvin Taylor will hold stock in the People's State and both will be connected with it in a business way." Commissioner Peterson gave it as his opinion that the merger of good assets could be completed with reasonable speed and declared that a part of the money depositors might claim in the Moran State Bank, probably 33 1-3 percent, could be made available almost at once and the remaining sums paid when funds were at hand under the provisions of the bank guaranty law, under which the Moran state was operating. Only a few of the people of Moran had learned of the bank's suspension when a Register representative visited the institution and there was no sign of excitement nor were there gathering groups out to discuss the matter. When news of the suspension finally began to filter through the country this afternoon, interest in the situation increased but everywhere on every hand, so far as a reporter could learn, there was a feeling that the inevitable had happened but without dishonesty and there was great sympathy and concern for the suffering president of the bank, Harlan Taylor. No Sign of Dishonesty. "Not a sign of dishonesty anywhere," Commissioner Peterson said. "Frozen assets tell the story. We believe the merger of the good assets with those of the People's State, will give Moran one big, strong banking institution, amply able to meet all the needs of the community and I sincerely believe conditions will be better with the one bank than could possibly be with two." The last statement for the Moran State Bank showed deposits of approximately $250,000. It had a capital of $15,000 and a surplus of about $11,000. Harlan Taylor was president, his son, Marvin Taylor, vice president, and S. D. Daniels, cashier. These with the Hosley estate, S. S. Irwin, administrator, and Mrs. M. M. Cook, of Bronson, were the stockholders. The People's State Bank has deposits of $140,000. Its officers are D. R. Goyette, president, O. A. Young, vice president, Frank Boyd, cashier and Frank Goyette, assistant cashier. The Moran State Bank has been known as "Harlan Taylor's bank" since its entry into the financial field there twenty-two years ago. His bank was Mr. Taylor's heart and soul and he gave it such close attention that his health has been seriously menaced. Some months ago, he fought out a serious illness

2. April 3, 1925 The Bronson Pilot Bronson, KS
Article from The Bronson Pilot, April 3, 1925

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Article Text

Western Spirit (Paola): B. J. Sheridan, former editor and father of the present editor of this paper, has been confined to his bed because of the injuries received in his encounter with Robert Coughlin last Saturday evening. He hopes to be recovered sufficiently at an early date, to give a plain statement of the occurrence, which he prefers to do himself, otherwise real causes, as well as the real facts would appear in this issue. The truth will satisfy all fair-minded persons. Bronson is coming right along and has a lady candidate for mayor at the coming spring election. There are eleven men also who want the honor and named as follows by the Pilot: William Noble, Ed Shively, D. E. Watson, D. C. Crosby, George Weatherbie, Lee Webster, Judge Webber, John Bowers, Robert Lent, Uncle Billy Bowers, C. E. Potter and Mrs. Mattie A. Webster as actively in the campaign for mayor—and some of these, we understand deny it. —The Uniontown Cicerone. Tom Johnson, farmer and auctioneer of near Mapleton, lost a large fine barn Wednesday morning of last week, when it was struck by lightning and burned. The barn and contents must have been worth at least $4,000, which was partly covered by insurance. —Blue Mound Sun. A young man at about the "wise age," from a neighboring town drove into Parker last week with a 1924 license on his car. Sheriff Engle was in town and asked him where his 1925 license was, and the youngster proceeded to tell "Doc" that it was none of his business where his license was and if "Doc" didn't like it he could go where snowballs are not the principal industry. Sheriff Engle listened until the wise young man had calmed down considerably and took him before police judge Carrico where the W. Y. M. was forced to contribute $5 to the city mess fund and before leaving town the W. Y. M. dug out a 1925 license, which he had in his car, and put it on, returning home a sadder but wiser smart aleck. —Parker Message. Swonger Resigns Bank Receiverships. Garnett Review: While Bank Commissioner Bone is very much pleased with J. F. Swonger's management of the three banks he has the receivership of, Mr. Swonger is not pleased at all with the way Mr. Bone runs the State Bank Commissioner's office. Mr. Bone ordered Swonger to transfer all the money of the three banks, in his possession as receiver from local banks to Topeka. Mr. Swonger therefore tendered his resignation as receiver of the Farmers Bank, Garnet, and the Moran and Vernon banks, to take effect as soon as he could be checked out. It is apparent that the State Bank Commissioner intends to assemble all the funds of the fifty-odd banks in Kansas, under receivership, in banks of his own choosing, which will pay 2 per cent on the deposits. The rate was reduced from 3 to 2 per cent by the late lamented legislature. It is possible these favored banks may be able to loan most of this money at 8 per cent. The condition of the Farmers State Bank of this city, in which Garnett and Anderson county people are interested, is such that the depositors could be paid their last 25 per cent dividend, and the business closed up in thirty days. Unpaid deposits are about $17,500, and there is about $10,000 cash in the hands of the receiver. A local bank has offered about $8,500 for the unpaid notes of the bank. The furniture and fixtures of the bank are a valuable asset, and easily sold for cash. Altogether, more than $20,000 could be realized at once if the State Bank Commissioner would consent and the receivership ended. A small fund would remain for the stockholders. If the business is taken to Topeka, there is no telling how long the receivership will be prolonged, or when depositors will get their money, and additional costs will probably eat up the small fund which might have gone to stockholders. Mrs. Celissa Graves expects to leave today to make her home with her son, Frank, at his farm home five miles west of Ft. Scott on the concrete.

3. February 4, 1926 The Iola Register Iola, KS
Article from The Iola Register, February 4, 1926

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Article Text

START SUIT IN MORAN BANK Receiver William Has Ordered Action All Notes, Attorney Says. Suits all outstanding notes held Docking for the defunct Morau State Bank, an early date, Frederick Apt. for the said Col. Mr. Docking had directed him early action. The first of these suits was filed in district court today and against Shouse and Margetha Shouse. Notes Col, Apt said,

4. January 31, 1927 The Hutchinson News Hutchinson, KS
Article from The Hutchinson News, January 31, 1927

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FORMER STATE LOSS FOR Funds Deposited in Kansas Insolvent Bank, Attorney General Charges. Topeka, Jan. state who was state grain inspector Davis, claim for $2,000. remaining collected from grain spection fees which Wilson had posited in insolvent bank. William Smith, attorney gen. today will seek Wilson personally for the $2,000. The receiver Moran State Bank, where Wilson deposited the has paid the judgment $5,500 has been obtained against Indemnity which company bonded Wilson.

5. March 4, 1927 The Kansas City Post Kansas City, MO
Article from The Kansas City Post, March 4, 1927

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Article Text

CHARGE, BUYS OTHER ASSETS John Sanders Gets State Job and Purchases Notes Out of Closed Institutions While Awaiting Trial. By CLUGSTON. former president of the Chase County National bank, charged with having involved his bank in heavy losses and with having embezzled $47.000 from the Slaybaugh estate which he was executor. apparently an active financial man after he removed from his office in the Cottonwood Falls banking institution. It established here today that not only obtained position with the state banking department ceiver defunct banks after charge had been made that he had embezzled money but he also, after becoming connected the state banking department. engaged in the buying the assets of closed banks with which he became acquainted through his state job. Mr. Sanders was assistant bank receiver by Roy Bone, state bank early in 1925. day Mr. Bone said that between that time and the first this week when he resigned go trial on the crimagainst him Moran State bank and the had failed Spring Mr. Bone on the state bankpayroll at the time made those purchases. Buys Assets for $525. In Moran Sanders paid $525 the bank more than This made April 1926, Mr. Bone that public sale, Sanders highest and that the sale by the At time the Moran sale made William Docking the genreceiver the banking partment and Dickinson was deputy turned over Mr. Sanders. Also, Mr. said today his that May number notes from Spring Hill bank, paying $350 them. explained that all assets this bank were offered and only bid whole Then Sanders was mitted through the papers or notes and them for reported that at another time. the Gilbert Frith the bank that had failed Dwight, but did get what they Bone said that, far as knew Mr. Sanders did bid assets the Central State bank Kansas City, when more than worth assets sold than $2,000. Recommendation Gets Job. In the unusual incident the state banking ploying Mr. Sanders as receiver defunct banks after he had been charged with involving his own bank and had been charged embezzling Mr. Bone today yesterday that he employed Sanders Mercer, stock dation who formerly lived in Sanders' Mercer brought him down and good Mr. Bone told that, there been trouble the Sanders bank, Sanders himself responsible The show the warrant. charging Sanders embezzlement. issued about the time he became connected with the state bankdepartment. The warrant in May. 1925, Mr. Sanders first placed charge State institution that leged have through bank the that headquarters in today denied that Mr. Mr. had been charge the book assets than he bought for said he had been charge of defunct Tonganoxie, Harveyand The Tonganoxie Burlingame ceiverships have been closed since Mr. trial Monday Falls the against been take work these Mr. Bone today successor would be named short time.